©”DAILY TENNIS NEWS WIRE”
The Madrid City Council is asking the Madrid Tennis Federation to put up more money for use of its facilities and is considering razing five indoor courts and leasing that area to Formula 1 auto racing.
While the combined ATP/WTA Mutua Madrid Open brings in a substantial amount of revenue, it only takes place two weeks a year and the overall facilities are underused, as is the “Magic Box” the center court for the tournament.
When it was designed, the complex was not only envisioned for the Mutua Madrid tournament, but to one of the venues for a future Olympic Games, but Madrid has yet to win a bid, although it is in the running for the 2020 games. Some 500 juniors pay about 70 dollars a month to receive tennis lessons and play on the five indoor and 16 clay outdoor courts, but that is not nearly enough to keep up with the facility’s maintenance costs.
The Madrid Tennis Federation has a lease until March 31 and is unsure what it is going to do. It has another 40 courts in the city, but not in that particular neighborhood.
Players Fernando Verdasco and Feliciano Lopez have complained about the possibility of bulldozing the indoor courts as they are few and far between in the city. They are hoping that the Formula 1 representatives and the City Council find another area on the 42-acre site.
The facility does play host to pro basketball games, and occasionally concerts.
Miguel Angel Villanueva, vice mayor of Madrid, has stated that the City “is working to maximize occupancy and profitability of the enclosure,” and will hire another manager “to get a better use, enhanced marketing and make more income with the idea that the neighborhood can use the facilities.”
The city took in $5.7 million dollars from rentals in 2011, and forecasts just over $7 million for 2012.
©”DAILY TENNIS NEWS WIRE”